Iraq exported 10 million barrels of oil through Strait of Hormuz in April

Iraq exported 10 million barrels of oil ​via the Strait of Hormuz in ‌April, down from about 93 million barrels monthly before the Iran war, the country's ​new oil minister, Basim Mohammed, ​said at a press conference on ⁠Saturday.

Reuters • an hour ago

US will replenish every barrel of oil it releases from Strategic Petroleum Reserve, Energy Secretary Wright says

The U.S. will replenish every barrel of oil it releases ​from the Strategic Petroleum Reserve, Energy Secretary ​Chris Wright said Friday at an event in ⁠Sabine Pass, Texas.

Reuters • 18 hours ago

UAE fast tracks second West-East oil pipeline to bypass Strait of Hormuz

The West-East pipeline, which will double ADNOC's export capacity through Fujairah, is expected to be operational in 2027. Global energy supplies are under pressure amid the Iran war, and flows through the Strait of Hormuz remain severely limited.

CNBC • a day ago

How China and U.S. eased the Middle East oil shock and kept prices from spiking even higher

China and the U.S. have played a big role in easing the impact of the oil supply disruption, according to the International Energy Agency and Wall Street analysts. The U.S. has boosted exports while China has slashed imports.

CNBC • 18 hours ago

UAE to accelerate oil pipeline project to help bypass Hormuz

The United Arab Emirates will accelerate construction of a new oil pipeline to double its export capacity through Fujairah by 2027, the government's Abu Dhabi Media ​Office said on Friday, vastly expanding its ability to bypass the ​Strait of Hormuz.

Reuters • May 15, 2026

US oil refiners finally profit from biofuels due to mandates, high fuel prices

U.S. oil refiners are finally reaping profits from renewable fuels, which had squeezed margins for years, but now demand has surged thanks ​to recent government biofuel mandates and rising diesel prices driven by the U.S.-Israeli war on Iran.

Reuters • 15 hours ago

Capital Economics sees oil at $150 per barrel through 2027 in an extreme case

Capital Economics said that in an extreme scenario where the Iran war escalates, Brent crude prices could rise above $150 a barrel and ​remain around that level until the end of 2027.

Reuters • a day ago

Trump discussed sanctioned Chinese oil refiners with Xi, considering lifting bans

President Donald ​Trump said on Friday he ‌discussed Chinese oil companies that have been sanctioned for buying ​Iranian oil and will ​make a decision about whether ⁠to lift bans in the ​next few days.

Reuters • a day ago

ENERGY GAMBIT: Trump targets China with MONUMENTAL American oil push

‘The Big Money Show' panel breaks down President Donald Trump's Beijing summit as China pushes for US energy, Taiwan tensions simmer and Wall Street weighs the risks of rising inflation and soaring bond yields.

Fox Business • 14 hours ago

Trump vindicated as OPEC faces collapse following UAE departure

The UAE's departure from OPEC could trigger a domino effect, experts say, potentially leading to lower gasoline prices within the next year or so.

Fox Business • 15 hours ago